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ANNEXURE TO FORM `A'
PART I
General
1. Name of the applicant stock exchange.
2. Address.
3. Date of establishment.
4. Is your exchange a joint stock company (state whether
public or private) registered under the Indian Companies Act
or an association for profit or otherwise? If it is organised
on some other basis, this may be stated.
5. Give details of your capital structure and attach three
copies of the audited balance sheets and profits and loss
account of the Exchange for the preceding three years.
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PART II
Membership
6. State the number of members at the time of application.
Also specify how many are inactive.
7. State whether there is any provision, resolution or
convention for limiting the number of members and whether in
pursuance thereof you have fixed a ceiling on the number of
members that you would take.
8. Do you insist on any minimum qualifications and experience
before enrolling new members? If so, give details.
9. State the different classes of members, if any, the number
thereof and the privileges enjoyed by each class. What is the
procedure followed by your exchange for admission of different
class of new members?
10. What are the rate of your annual subscription in respect
of the different classes of members?
11. Do you collect any security deposit from your members? If
so, give details and also state the manner in which such
deposits are utilised and the rate of interest allowed, if
any.
12. Do you collect any admission or entrance fees from your
members or from partners of firms who are members? If so, how much?
13. Do you insist on your members and partners of firms who are members divesting themselves of other activities either as principal or as employee?
14. Do your rules permit firms to become members? If so, it is incumbent on members to seek the approval of the governing body before admitting new partners? State the conditions, if any, laid down in your rules for the admission of such partners.
15. If your rules do not permit of firms being enrolled as
members, do you permit individual members to form a
partnership? State the procedure followed for the recognition
of such partnership.
16. Do you permit members to work in partnership with non-
members? If so, how far are such non-members subject to the
control of the stock exchange?
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PART III
Governing body
17. What is the present strength of your governing body? Give
details of the constitution, powers of management, election
and tenure of office of members of the governing body, and the
manner in which its business is transacted.
18. Are any trade or commercial interests represented on your
governing body? If so, give details of interests represented.
19. Do you associate shareholders of investors' associations
with the management of your exchange? If so, state the manner
in which it is done.
20. Are there any government representatives on your governing
body? If so, furnish their names.
21. Do your rules provide for the direct election by members
of any other bodies or committees, apart from the governing
body? If so, give details of their constitution, tenure,
powers and functions.
22. Do you have any provision for the appointment of standing
or ad hoc sub-committees of the governing body? If so, furnish
details of the method of their appointment, terms of office,
powers and functions.
23. Give the designations, powers and duties of principal
office-bearers of your exchange. Are any of these office-
bearers of your exchange. Are any of these office-bearers in
the pay of the stock exchange? If so, give details as to the
mode of their appointment, tenure of office and remuneration.
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PART IV
Trading
24. Do you have a trading ring? If not, how do you carry on
the business? Give details.
25. State the different kinds of contracts in use on your
exchange e.g. spot, ready and forward. State the period of
delivery and payment in each case.
26. Give details of business hours for each type of contract.
27. Give details of the scale of brokerage and other charges,
if any, prescribed by your exchange.
28. Do you prescribed standard forms of contract for the use
of your members? Attach three copies of each such contract
form.
29. Do you classify your members into brokers and jobbers? If
so, specify the bye-law under which this is done.
30. Do you have a system of registration of remisiers and/or
authorised clerks? If so, give details as to their
qualifications, obligations and rights, etc.
31. Do you have any regulations regarding dealings by members
on their own account whether in the nature of Taravani (day-to-
day) or otherwise?
32. Do you have any provisions for regulating the volume of
business done by any individual member other than through a
system of margins? If so, give details.
33. What provisions have you made for periodical settlement of
contracts and differences thereunder, the delivery of, and
payment for securities and the passing of delivery orders?
34. Do you have a clearing house for the settlement of
contracts? If so, give details of its organisation and
management.
35. If you have clearing house, what returns do the members of
your exchange submit regarding the transactions cleared
through such clearing house? Does the exchange ask for any
regular returns in respect of transactions settled outside the
clearing house? Submit three copies of forms used in this
connection.
36. How do you fix, alter or postpone the dates of settlement?
37. How do you determine and declare making-up prices?
38. Do you have any arrangements for making or recording of
bargains?
39. Have you any arrangements for recording and publishing
market rates including opening, closing, highest and lowest
rates?
40. What provisions have you made for regulating -
(a) the
entering into contracts, their performance and rescission,
including contracts: (i) between members, (ii) between a
member and his constituent and (iii) between a member and a
non-member; (b) the consequences of breach, default or
insolvency on the part of members whether acting as buyers,
sellers or intermediaries; and (c) `havalas' and other matters
relating to conduct of business of members in the exchange?
41. Do you prescribe margin requirements? If yes, give
details.
42. Do you prescribe maximum and minimum prices for
securities? If so, how and under what conditions.
43. Do you provide any safeguards for the prevention of `bull-
squeezes' and `bear-raids' and for meeting emergencies in
trade? Give details.
44. What are the measures adopted by you to regulate or
prohibit advertising or issue of circulars by your members?
45. What are the disciplinary powers with the governing body
to enforce due compliance by members of the rules and bye-laws
of the exchange and generally to ensure proper standard of
business conduct?
46. Do you require members to supply such information or
explanation and to produce such books relating to their
business as your governing body may require?
47. Do you publish any statistics in regard to business done
on the exchange including the transactions settled through the
clearing house, if maintained? In particular, have you evolved
any machinery for computing the volume of transactions in the
different kinds of contracts permitted on your exchange? Give
details.
48. Do you have any bye-laws contravention of which makes a
contract void?
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PART IV
Miscellaneous
49. Do you have any machinery for arbitration of disputes
between members and/or between members and their constituents?
Give details.
50. What are the conditions subject to which securities are
listed for dealings on your exchange?
51. What are your requirements for admitting securities to
forward trading?
52. Do you have the right to prohibit, withdraw or suspend
dealings in a listed security? If so, under what circumstances
is this right exercised?
53. What provisions have you made for the levy and recovery of
fees, fines and penalties?
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